For the 24 hours to 23:00 GMT, Crude Oil declined 0.05% against the USD and closed at USD40.32 per barrel on Friday, amid worries over increasing coronavirus cases in the US.
In the Asian session, at GMT0300, the pair is trading at 40.41, with oil trading 0.22% higher against the USD from Friday’s close.
The pair is expected to find support at 40.00, and a fall through could take it to the next support level of 39.60. The pair is expected to find its first resistance at 40.65, and a rise through could take it to the next resistance level of 40.90.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.